Poll: I'd rather be 30 years younger ± ...

[Midpack]

This is NOT a poll asking if you'd like to be younger, it's more a poll on your long term financial outlook.

It stems from a debate on another forum where an OP states "If there is any segment of the population that is being exceptionally punished by the policies that have been embraced by past and current administrations, it is the retired class which sits by passively as their wealth is being transferred to other parties."

While I can think of legitimate grievances for retirees or any other group, I don't see where retirees are "being exceptionally punished" to an extent greater than any other group. To me it's a no-brainer, but I've been wrong before (today and every day). Who better to ask than this group?

I am not looking for a political assessment AT ALL, I'm looking for poll results more than anything else...

If you're 35 or less, you should probably vote "other" or abstain IMO.

 

[rodi]

The job market is much tighter now than it was when I was 30. At age 30 I was making big career moves/job changes to drive up my salary. Now people are clinging to their jobs - and if they lose a job, they end up taking one that pays less.

At least in my market and field.

 

[MichaelB]

I haven't given this enough thought to answer, but I am glad to be alive.

 

[dtbach]

The job market is much tighter now than it was when I was 30. At age 30 I was making big career moves/job changes to drive up my salary. Now people are clinging to their jobs - and if they lose a job, they end up taking one that pays less.

At least in my market and field.

+1

 

[Sarah in SC]

Wouldn't change a thing.

 

[jerome len]

I've loved my life and would love the chance to live it again. It's been, is and I believe will be fun!!!!!!!!!!But......I wouldn't change a think in my life now......I'm very lucky.

 

[antmary]

The job market is much tighter now than it was when I was 30. At age 30 I was making big career moves/job changes to drive up my salary. Now people are clinging to their jobs - and if they lose a job, they end up taking one that pays less.

At least in my market and field.

+2 I could always get a job when I was 30, and the opportunities for going into a field of one's choice seemed endless. Now, it seems that there is a feeling of financial insecurity that is almost palatable for those still in the working years. The doors of good-paying and secure jobs appear to be closing, and have for quite some time.

I savor my life now, and feel confident that we will have enough money to carry on. I enjoy steeping myself in day to day experiences today; when I was in my 30's, it seemed that time just skipped along.

 

[Bestwifeever]

Clueless re finances and a lot of other things when we were 30. Yet it all worked out.

Sometimes I wish we didn't know now what we didn't know then.

Against The Wind - Bob Seger - YouTube

 

[bo_knows]

But, but... I am age 30 in 2012

Edit: Ha, I didn't see "If you're 35 or less, you should probably vote "other" or abstain IMO." Oops.

 

[Midpack]

But, but... I am age 30 in 2012

So do you wish you were 60

 

[bo_knows]

So do you wish you were 60

I don't... but it's quite a different picture when you're looking so far ahead and it's hard to imagine investments that far out. At least it's on my brain I suppose.

 

[lowflyer]

Way back when, I managed to end up with quite a nice career, without a college degree. That'd be nearly impossible these days. I like where I'm at now, with our current finances.

 

[Nemo2]

So do you wish you were 60

If you're handing out wishes, I'll take 60.......although 20 would be better.

 

[East Texas]

There will always be a lot of woulda/coulda/shoulda as we look back through time. Any change in my path at any point (career, personal, financial decisions, etc.) would have changed the person I am today, and not necessarily for the better. I'll do the bird in hand thing and appreciate who I am and what I have here and now.

 

[W2R]

If you're handing out wishes, I'll take 60.......although 20 would be better.

If I could be 20 again, I wouldn't care if it was 1968 or 2012. That would be my dream come true.

 

[neihn]

If I could be 20 again, I wouldn't care if it was 1968 or 2012. That would be my dream come true.

Yeah - I take 20 any time - I spent my youth in Vietnam re-education camp. If I could live my 20s here, wow imagine that. Just image that, already brings joy in my face

 

[W2R]

Yeah - I take 20 any time - I spent my youth in Vietnam re-education camp. If I could live my 20s here, wow imagine that. Just image that, already brings joy in my face

Yes, after that experience I can imagine that you would really, really enjoy the chance to relive your 20's here.

Life was much kinder to me in my 20's, and I just want to live longer, myself. It would be nice to be young and strong again, too, and with my whole life stretched out ahead of me.

 

[Midpack]

The first line in post #1 seems to be getting lost. I couldn't figure out how to build it into the question more clearly...my fault. Guess the poll results will be inconclusive as intended anyway. Oh well, life goes on bra...

 

[ShortInSeattle]

So do you wish you were 60

Sometimes I wish I was further along in my savings plan and closer to retirement. Then I remind myself that if I were older, I might not have my parents around and I'd have fewer years left with DH.

Generally I'm happy wherever I happen to be on the timeline, although every year is better than the last. I hope the trend continues!

 

[Independent]

Okay, I think the poll question could be "Which age group is most negatively impacted by the current Great Recession (or political decisions related to it)".

Somebody has claimed it's the older people because their assets "are being transferred" to others. Maybe they are thinking extremely low interest rates, (which I think do transfer income from older people with savings to younger people who are net borrowers).

I voted "other", and really meant "too complicated to know for sure". Young people have been hit by a rotten job market, 30 somethings by a collapse in house values, old people by lousy interest rates.

If I had to make a wild guess, it would be the young people because jobs are number 1 in terms of financial success.

 

[Midpack]

Okay, I think the poll question could be "Which age group is most negatively impacted by the current Great Recession (or political decisions related to it)".

Somebody has claimed it's the older people because their assets "are being transferred" to others. Maybe they are thinking extremely low interest rates, (which I think do transfer income from older people with savings to younger people who are net borrowers.

All correct. I didn't build the poll well, my bad...

 

[FIREd]

Is it better to be younger or older in 2012, based on the long term financial outlook?

Hard to say... On a personal level, we have it good for people in our 30s. We have already reached financial independence while DW still enjoys her well-paid career. So, despite the great recession, we managed to get the best of both worlds: youth and assets. I think our long term financial prospects are decent. But I think that some people in my generation got the raw end of the deal. They have been marginalized by the great recession and their financial prospects are dim. I think that Social Security allows older people to avoid the same fate.

NB: I didn't vote.

 

[Bestwifeever]

I think the poll is just fine, MidPack--I enjoy all your polls and how they lead to further streams of thought.

 

[Midpack]

I think the poll is just fine, MidPack--I enjoy all your polls and how they lead to further streams of thought.

Thanks, you're kind. But based on some of the posts, some folks seemed to respond as if the question was would you like to be younger. That wasn't the point, but my own fault...

 

[ERD50]

The first line in post #1 seems to be getting lost.

It's an interesting thought experiment, IMO. And answering in the spirit that I think you intended, I would say I'd rather not reset to age 30 at this time (financially). Or to put it another way - no, I don't think a 60YO is being hurt by the economy more than a 30 YO.

However, I then realize that creates another issue - it's not just comparing two groups, it is adding 30 years of uncertainty if we jump back. And people tend to hate uncertainty. And the past 30 years included one of the great Bull markets of all time, so my 30 YO asset base would be before that, and I'd say we are unlikely to see that again in the next 30 years (just statistically speaking, not using a crystal ball - as it was a record Bull, it is rare by definition).

But as has been discussed many times, I think the flattening of the world is going to make it hard for the 1st world countries to maintain their standard of living. The 2nd and 3rd world countries are going to be competing with us on many levels, and they will gladly work for less.

I recently came across another reference to the idea that in 1900, horse manure and dead horses were a major, major problem facing large cities. No one knew what to do about it, and no one envisioned the problem would go away in a few decades as trucks/autos took over. So who knows what the future holds?

-ERD50